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of <h1>Income Tax Bill 2025: New 22% Rate for Domestic Companies with Conditions, Excluding Certain Deductions and Losses</h1> The Income Tax Bill, 2025, introduces a new tax regime allowing domestic companies to opt for a 22% income tax rate on total income, subject to certain conditions. This option excludes deductions under specified sections and disallows the carry forward or set-off of losses and depreciation linked to these deductions. If the conditions are not met, the option becomes invalid, and standard tax provisions apply. Companies with units in International Financial Services Centres have modified conditions. The option must be exercised by the prescribed due date and, once chosen, cannot be withdrawn. If a previous option under section 201 is invalidated, this option may be exercised.
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